Let me explain this question by comparing two income models I’ve worked on in the past.
- Model 1 – One being Teespring. It has given me a six figure month in the past but was very unstable. Along with that came negative months even though the hours output was the same.
- Model 2 – The other model is this blog. 3-5k/month every month for a few hours of work a week. Consistent but not as high potential as the first model.
I think many affiliate marketers would choose the first model. It’s more fun and the potential is limitless! You can have 11 bad months as long as you have one killer month to make up for everything and load up that bank account.
But what many people don’t see is the amount of effort and stress behind it all. You’re never guaranteed that profitable month. In fact you’re not guaranteed anything. The only thing that keeps you going is the small pockets of gold you find along the way and your ability to believe in yourself and that all this hours of work will pay off when you hit something good.
Chances are you WILL hit that something if you stick to it long enough. But that will last at max 3-4 weeks and then you’re on the grind again to find something else. How are you supposed to build on this model?
This is why for most of this year, and for as long as it will take me, I’m trying to find website or income ideas that have HUGE returns and scaling potentials but very little effort required to run the show.
Think of sites like Viralnova. Easily a million dollar company that probably has a small team running the whole show. Even Fiverr or Elance. Now, although it would be great to build companies as big as those the reality is I still need to acquire the skill sets to get there.
These skill sets are different to what an affiliate marketer would have acquired following model 1. The churn, earn and burn technique does not teach you anything about building a customer database or building a brand. Keeping customers ordering/buying again and again, etc.
These are what I need to learn to build a solid monthly income stream. I’m looking to earn 20k/month by the end of next year so I’ve given myself all of this year to learn and attempt a bunch of things that will teach me the above skills.
These require a lot of patience but as long as you’re consistent, they can bring you a lot more then short term affiliate marketing can ever bring you.
It’s always good to start with model 1 until you get to a mastery level of paid marketing. Until you know how to test ideas quickly and aren’t afraid to lose money. But once you’ve gathered all that skill, it’s best used to make something long term that will bring you money for ever, not just a few weeks.
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